Is Solar Energy Worth It In Illinois

The solar renewable energy credit srec this system lets homeowners generate credits for every.

Is solar energy worth it in illinois.

If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. There are three primary rebates that homeowners in chicago can use to bring down the costs of their solar investment. You compare the value of any applicable heating or cooling system already on your property to the value of your new solar energy system.

How are you financing your solar panel system. While solar leases and power purchase. For solar energy the first major step illinois took to encourage installations was to pass the special assessment for solar energy systems in 1998. This incentive is paid in cash by comed not by the state of illinois.

The renewable portfolio standard rps in illinois mandates that electric utilities obtain 25 of their energy from renewable energy sources by 2025. The bill which remains available today provides a property tax easement by equating the solar equipment to be valued at no more than the value of a conventional energy system. The good news is that rooftop pv systems owned by homeowners count toward the goal and for electric utilities it s cheaper to incentive residential solar power instead of developing the renewable power capacity themselves.